Entrepreneurial business building can bring you endless waves of profit, freedom and fun, when you do it right. That is where the title of this article comes from – “build your business right… or else.”
Or else what?
One of the challenges of entrepreneurial business is that there are lots of ways to do it wrong. If you do not plan and execute your business strategy correctly, here are examples of what could happen instead:
Focus – All too often, people are starting their own business in order that “no one is going to tell me what to do.” That’s not the foundation for business success.
SO – be sure you’re in business to solve a customer’s needs, in a way you enjoy using your mind and your energy. That’s the way to get a business that can grow.
Customers – The smartest business builders have learned it doesn’t matter what you’re interested in – what matters is what the buyer is interested in. And you won’t learn that unless you get into the mind of your prospect
SO – devote at least 10 hours every week to getting away from working ‘in’ your business. You need to talk to prospects, current customers and invite them to share their most pressing challenges, frustrations and dreams so you’ll know exactly what to offer them.
Productivity – If you’re doing it all yourself, you better be a sole practitioner accountant or attorney, or creating an internet business. That’s about the only way to create enough sales revenue from the 2,000-3,000 hours of energy you’ve got to put into a business each year.
SO – if you’ve got a product or service with growth plans bigger than that, get others onboard NOW to start handing off the repetitive work, so you can be driving sales and marketing activities, and designing your next product or service.
Profitability – Remember that “so no one will tell me what to do” attitude. I’ve seen business owners actually keep paying to keep their doors open, operating at a loss, for years. Profits come from providing what someone wants to buy for more than the cost of being in business
SO – use your time, intelligence and energy to deliver what people want to buy at a price that will add to your bank account.
Get these business building gems right and you’ll have all the freedom you want for the rest of your live.
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